Engineers Gate Manager LP increased its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 373.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 7,956 shares of the computer hardware maker’s stock after acquiring an additional 6,277 shares during the period. Engineers Gate Manager LP’s holdings in NVIDIA were worth $1,422,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Welch Investments LLC purchased a new position in NVIDIA in the third quarter worth approximately $104,000. Evercore Wealth Management LLC grew its position in NVIDIA by 36.9% in the second quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after acquiring an additional 206 shares during the period. Thompson Davis & CO. Inc. grew its position in NVIDIA by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock worth $119,000 after acquiring an additional 6 shares during the period. Edge Advisors LLC grew its position in NVIDIA by 98.8% in the third quarter. Edge Advisors LLC now owns 835 shares of the computer hardware maker’s stock worth $149,000 after acquiring an additional 415 shares during the period. Finally, Hanson McClain Inc. grew its position in NVIDIA by 12.7% in the second quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock worth $127,000 after acquiring an additional 99 shares during the period. Institutional investors own 63.51% of the company’s stock.
In other NVIDIA news, insider Michael Byron sold 9,538 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $179.80, for a total value of $1,714,932.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 50,000 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $189.62, for a total value of $9,481,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 315,175 shares of company stock worth $59,428,079. 5.17% of the stock is owned by insiders.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.39. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.36 billion. NVIDIA had a return on equity of 42.71% and a net margin of 28.78%. The company’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same period last year, the firm earned $0.94 earnings per share. analysts anticipate that NVIDIA Corporation will post 4.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This is a boost from NVIDIA’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 0.31%. NVIDIA’s dividend payout ratio (DPR) is currently 14.89%.
NVDA has been the subject of several analyst reports. Raymond James Financial increased their price objective on NVIDIA and gave the stock an “outperform” rating in a research report on Friday, November 10th. Bank of America set a $210.00 price target on NVIDIA and gave the stock a “buy” rating in a research note on Thursday, October 12th. Canaccord Genuity restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Friday, September 8th. Royal Bank of Canada upped their price target on NVIDIA from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. Finally, Goldman Sachs Group upped their price target on NVIDIA from $193.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. NVIDIA presently has a consensus rating of “Buy” and a consensus target price of $187.38.
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Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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